9/14/2012 10:47 AM
The New York Times features the Shanghai Tower in a discussion of Chinese towers and their relationship to greater Chinese economic issues. Falling property prices and an over-supply of projects has sparked concerns about filling new towers.
Situations vary city-to-city, the article notes. But a flurry of construction has created issues for the Chinese economy, author Bettina Wassener writes:
“The current problems are twofold. Property prices have fallen in many cities since Beijing sought to cool a red-hot market in 2010 by imposing higher down-payment requirements, among other measures. At the same time, many analysts worry that a flood of investment into the sector in recent years could leave some developers holding empty properties, and lenders saddled with bad debts.”
Find the full article here.
China's rapid urbanization will be thoroughly discussed in Shanghai next week at the CTBUH 9th World Congress.
The growth of China’s tall building industry is illustrated in this recent CTBUH Report.